ISK ISK administrative expenses 30,000 Depreciation of production equipment 10,000 Inventory of raw materials on 1 February
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ISK | ISK |
administrative expenses | 30,000 |
Depreciation of production equipment | 10,000 |
Inventory of raw materials on 1 February | 6,000 |
Inventory of raw materials Feb 29, | 12,000 |
Factory property costs | 4,000 |
Office Costs | 1,000 |
Market and distribution costs | 24,000 |
Salary of factory manager | 18,000 |
Wages of factory workers | 22,000 |
Rent office sales office | 7,000 |
Raw material purchase | 41,000 |
Cash and cash equivalents (bank) | 172,900 |
Accounts receivable | 94,200 |
Accounts payable | 39,000 |
Sales revenue | 247,000 |
Sales commissions | 18,000 |
Various factory costs | 6,000 |
Units | |
Quantity produced | 20,000 |
Quantity sold | 18,000 |
1. Calculate the factory direct production costs.
2. Calculate the plant's production costs, inventory value at the end of September as well as the cost of goods sold (KSV) of the month.
3. Prepare a September income statement for Verksmiðjan ehf.
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